can Pub ltd co be a partner of a firm

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Meenakshi (Querist)
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16 February 2009 Can a Public limited Company(INDIAN) be a partner of a Partnership firm (INDIAN) according to Indian laws? If yes then what is the procedure should be followed?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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16 February 2009 Yes. A public limited company can be a partner in a partnership firm.

Step 1 : Conduct the board meeting.

Step 2 : Bring the subject of joining a partnership firm. The same has to be discussed in detail alongwith investment propsed.

Setp 3 : Pass a resolution to that effect.

Step 4 : Check section 372A of the companies act.

Step 5 : Comply with all the provision of Section 372 A.

Step 6 : File form 23 to Roc.

Setp 7 : Create partnership deed, register the same.

Setp 8 : Then invest.

Step 9: Enter the details in the investment register.

Step 10 : Conduct board meeting and authorise one director to monitor partnership activities.

Meenakshi

Meenakshi (Querist)
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16 February 2009 Thanks for the reply, but could u please tell me if it is not attracted by sec 372 then form 23 should be filed or not.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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16 February 2009 Even then you have to file form 23 because you are registering with roc the important resolutions passed by the board.

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